Common use of Servicing Compensation; Payment of Certain Expenses by Servicer Clause in Contracts

Servicing Compensation; Payment of Certain Expenses by Servicer. So long as HSBC Finance or one of its Affiliates is the Servicer, the Servicing Fee for each Collection Period ending on or before [ ] shall be paid pursuant to Section 5.01(a)[(xix)]. The Servicer shall be entitled to receive the Servicing Fee as compensation for its services in connection with servicing the Home Equity Loans. On any Payment Date prior to the [ ] Payment Date when HSBC Finance or one of its Affiliates is not the Servicer or on any Payment Date on and after the [ ] Payment Date regardless of whether HSBC Finance or one of its Affiliates is the Servicer, the Servicing Fee for each Collection Period shall be paid to the Servicer out of Interest Collections prior to their deposit in the Collection Account and shall not be the responsibility or liability of the Trust, the Owner Trustee, the Indenture Trustee, the Administrator, the Noteholders or the Transferor in respect of the Ownership Interest. Additional servicing compensation in the form of late payment charges or other receipts not required to be deposited in the Collection Account shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of Owner Trustee, Administrator and Indenture Trustee fees, expenses and indemnifications due to the Indenture Trustee under Section 6.7 of the Indenture, due to the Administrator under Section 6.16 of the Indenture, and all other fees and expenses not expressly stated hereunder to be for the account of the Noteholders and the Transferor in respect of the Ownership Interest) and shall not be entitled to reimbursement therefor except as specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. So long as HSBC Finance or one of its Affiliates is the ServicerOn each Distribution Date, the Servicing Fee for each Collection Period ending on or before [ ] shall be paid pursuant to Section 5.01(a)[(xix)]. The Servicer shall be entitled to receive receive, and the Indenture Trustee shall pay, out of collections on the Mortgage Loans for the Due Period, as servicing compensation for such Due Period, an amount (the "Monthly Servicing Fee") equal to the product of one-twelfth of the Servicing Fee Rate and the aggregate outstanding Principal Balance of each Pool of Mortgage Loans as compensation for its services in connection with servicing of the Home Equity Loans. On any Payment Date beginning of such Due Period; provided, however, that prior to the [ ] Payment Date when HSBC Finance or one termination of its Affiliates is not the Servicer or on any Payment Date on and after the [ ] Payment Date regardless of whether HSBC Finance or one of its Affiliates is the Back-up Servicer, the Monthly Servicing Fee for each Collection Period shall be paid reduced on each Distribution Date by the amount, if any, of the Back-up Servicing Fee Deficiency on such Distribution Date. The Servicer shall provide written notice to the Servicer out Indenture Trustee and the Collateral Agent setting forth the amount of Interest Collections such reduction at least five (5) Business Days prior to their deposit in the Collection Account and shall not be the responsibility or liability of the Trust, the Owner Trustee, the Indenture Trustee, the Administrator, the Noteholders or the Transferor in respect of the Ownership Interestnext Distribution Date. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other receipts not required to be deposited in the Collection Account administrative charges shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of Owner Trusteeall fees and expenses of the Subservicer, Administrator and Indenture Trustee fees, expenses and indemnifications due to payment of the Indenture Trustee under Section 6.7 Fee and payment of the Indenture, due Collateral Agent Fee to the Administrator under extent that monies in the Collection Account are insufficient therefor, as provided in Section 6.16 of the IndentureIndenture and Section 9.05 hereof, and all other fees and expenses not expressly stated hereunder to be for the account of the Noteholders and the Transferor in respect of the Ownership Interestpayable by or from another source) and shall not be entitled to reimbursement therefor except as specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. So long as HSBC Finance or one of (a) As compensation for its Affiliates is the Serviceractivities, the Servicing Fee for each Collection Period ending on or before [ ] shall be paid pursuant to Section 5.01(a)[(xix)]. The Servicer shall be entitled to receive the Servicing Servicer Fee as compensation for its services in connection accordance with servicing this Section 6.05 and the Home Equity LoansSeries Supplements. On any Payment Date prior The monthly Servicer Fee shall be payable to the [ ] Payment Date when HSBC Finance or one of its Affiliates is not the Servicer or on any Payment Date on and after the [ ] Payment Date regardless of whether HSBC Finance or one of its Affiliates is the Servicer, the Servicing Fee in arrears for each Collection Period Period, on the Settlement Date in respect of such Collection Period. The Servicer Fees shall be paid payable to the Servicer out solely to the extent amounts are available for distribution pursuant to Section 7.02 hereof and the Series Supplements; provided, that in accordance with such provisions, any such Servicer Fees not paid when due as a result of Interest Collections prior to their deposit in the Collection Account and shall there not be the responsibility or liability of the Trust, the Owner Trustee, the Indenture Trustee, the Administrator, the Noteholders or the Transferor in respect of the Ownership Interest. Additional servicing compensation in the form of late payment charges or other receipts not required to be deposited in the Collection Account being sufficient available funds therefor shall be retained by payable on any future Settlement Dates to the Servicer. extent amounts are then available for the payment thereof. (b) The Servicer shall be required to pay all expenses incurred by it the Servicer in connection with its activities hereunder hereunder, including, without limitation, fees and disbursements of the Independent Accountants, taxes imposed on the Servicer (including payment of Owner but excluding any sales taxes or other taxes imposed on any User, any Broker, the Obligors, the Transferor, the Trustee, Administrator and Indenture Trustee feesany Noteholder, or any other Person), expenses incurred in connection with distributions and indemnifications due reports to the Indenture Trustee under Section 6.7 of the Indenture, due to the Administrator under Section 6.16 of the Indenture, Noteholders and all other fees and expenses not expressly stated hereunder to be for the account of the Noteholders and the Transferor in respect Obligors. (c) In connection with any transfer of the Ownership Interest) and servicing obligations to a successor Servicer in accordance with Section 9.02 hereof, the Back-up Servicer shall not be entitled to reimbursement therefor except of Transition Costs as specifically provided hereinin each Series Supplement.

Servicing Compensation; Payment of Certain Expenses by Servicer. So long as HSBC Finance or one of its Affiliates is the Servicer, the Servicing Fee for each Collection Period ending on or before [ ] shall be paid pursuant to Section 5.01(a)[(xix)]. The Servicer shall be entitled to receive the Servicing Fee as (a) As compensation for its services in connection with servicing hereunder, the Home Equity Loans. On any Payment Date prior Servicer shall receive on each Distribution Date, a monthly fee (the "Servicing Fee") equal to the [ ] Payment Date when HSBC Finance or one product of its Affiliates is not the Servicer or on any Payment Date on and after the [ ] Payment Date regardless of whether HSBC Finance or one of its Affiliates is the Servicer, (x) the Servicing Fee for each Rate divided by 12 and (y) the Invested Amount less 98% of the Pre-Funded Amount (excluding any Pre-Funding Earnings) as of the opening of business on the first day of the preceding Collection Period or, with respect to the first Distribution Date, as of the Closing Date. For any Distribution Date, such fee shall be paid to the Servicer out of Interest Collections prior to their deposit payable monthly in the Collection Account and shall not be the responsibility or liability of the Trust, the Owner Trustee, the Indenture Trustee, the Administrator, the Noteholders or the Transferor arrears in respect of the Ownership Interestaccordance with Section 5.1(a). Additional servicing compensation in the form of fees, late payment charges or other receipts not required to be deposited in the Collection Account otherwise shall be retained by the Servicer. Servicer as additional servicing compensation. (b) The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (under this Agreement, including payment fees and disbursements of Owner Trusteethe independent accountants referred to in Section 3.10, Administrator and Indenture Trustee feestaxes imposed on the Servicer, expenses incurred in connection with distributions and indemnifications due reports to Certificateholders, all Trustee fees and expenses payable to the Indenture Trustee under pursuant to Section 6.7 of the Indenture, due to the Administrator under Section 6.16 of the Indenture9.5, and all other fees and expenses not expressly stated hereunder to be for the account of the Noteholders and Certificateholders (including, without limitation, the Transferor in respect cost of the Ownership Interest) obtaining Opinions of Counsel required under this Agreement, except as otherwise provided herein), and shall not be entitled to reimbursement therefor except to the extent that such expenses constitute Liquidation Expenses or as otherwise specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. So long as HSBC Finance or one of its Affiliates is the ServicerOn each Servicer Distribution Date, the Servicing Fee for each Collection Period ending on or before [ ] shall be paid pursuant to Section 5.01(a)[(xix)]. The Servicer shall be entitled to receive retain and not include in the Servicer Distribution Amount, as servicing compensation for the Due Period immediately preceding such Servicer Distribution Date, an amount equal to the Servicing Fee as compensation for its services in connection with servicing the Home Equity Loans. On any Payment Date prior to the [ ] Payment Date when HSBC Finance or one of its Affiliates is not the Servicer or on any Payment Date on and after the [ ] Payment Date regardless of whether HSBC Finance or one of its Affiliates is the Servicer, the Servicing Fee for each Collection Period shall be paid to the Servicer out of Interest Collections prior to their deposit in the Collection Account and shall not be the responsibility or liability of the Trust, the Owner Trustee, the Indenture Trustee, the Administrator, the Noteholders or the Transferor in respect of the Ownership InterestFee. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other receipts administrative charges, release fees, bad check charges and other similar servicing-related fees shall be retained by the Servicer. Net Liquidation Proceeds not otherwise required to be deposited in a Certificate Account or a Collection Account pursuant to this Agreement, to the extent set forth in Section 6.6(d), earnings paid on Permitted Investments and amounts held on deposit as investment earnings on a Collection Account shall be retained by or remitted to the ServicerServicer to the extent not required to be remitted to the Trustee for deposit in a Certificate Account. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of Owner Trustee, Administrator and Indenture the Trustee fees, expenses and indemnifications due Fee to the Indenture Trustee under extent that monies in the Collection Account of a Trust are insufficient therefor, as provided in Section 6.7 of the Indenture, due to the Administrator under Section 6.16 of the Indenture9.5 hereof, and all other fees and expenses not expressly stated hereunder to be for the account of the Noteholders and the Transferor in respect of the Ownership Interestpayable by or from another source) and shall not be entitled to reimbursement therefor except as specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. So long as HSBC Finance or one of its Affiliates is the Servicer, the Servicing Fee for each Collection Period ending on or before [ ] shall be paid pursuant to Section 5.01(a)[(xix)]. The Servicer shall be entitled to receive the Servicing Fee as (a) As compensation for its services in connection with servicing hereunder, the Home Equity Loans. On any Payment Date prior Servicer shall receive on each Distribution Date, a monthly fee (the "Servicing Fee") equal to the [ ] Payment Date when HSBC Finance or one product of its Affiliates is not the Servicer or on any Payment Date on and after the [ ] Payment Date regardless of whether HSBC Finance or one of its Affiliates is the Servicer, (x) the Servicing Fee for each Rate divided by 12 and (y), the Invested Amount as of the opening of business on the first day of the preceding Collection Period Period. For any Distribution Date, such fee shall be paid to the Servicer out of Interest Collections prior to their deposit payable monthly in the Collection Account and shall not be the responsibility or liability of the Trust, the Owner Trustee, the Indenture Trustee, the Administrator, the Noteholders or the Transferor arrears in respect of the Ownership Interestaccordance with Section 5.1(a). Additional servicing compensation in the form of fees, late payment charges or other receipts not required to be deposited in the Collection Account otherwise shall be retained by the Servicer. Servicer as additional servicing compensation. (b) The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (under this Agreement, including payment fees and disbursements of Owner Trusteethe independent accountants referred to in Section 3.10, Administrator and Indenture Trustee feestaxes imposed on the Servicer, expenses incurred in connection with distributions and indemnifications due reports to Certificateholders, all Trustee fees and expenses payable to the Indenture Trustee under pursuant to Section 6.7 of the Indenture, due to the Administrator under Section 6.16 of the Indenture9.5, and all other fees and expenses not expressly stated hereunder to be for the account of the Noteholders and Certificateholders (including, without limitation, the Transferor in respect cost of the Ownership Interest) obtaining opinions of Counsel required under this Agreement, except as otherwise provided herein), and shall not be entitled to reimbursement therefor except to the extent that such expenses constitute Liquidation Expenses or as otherwise specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. So long as HSBC Finance or one of its Affiliates is the Servicer, the Servicing Fee for each Collection Period ending on or before [ ] shall be paid pursuant to Section 5.01(a)[(xix)]. (a) The Servicer shall be entitled to receive the Servicing Fee in accordance with the terms of this Agreement as compensation for its services in connection with servicing the Home Equity Mortgage Loans. On any Payment Date prior to the [ ] Payment Date when HSBC Finance or one of its Affiliates is not the Servicer or on any Payment Date on and after the [ ] Payment Date regardless of whether HSBC Finance or one of its Affiliates is the ServicerMoreover, the Servicing Fee for each Collection Period shall be paid to the Servicer out of Interest Collections prior to their deposit in the Collection Account and shall not be the responsibility or liability of the Trust, the Owner Trustee, the Indenture Trustee, the Administrator, the Noteholders or the Transferor in respect of the Ownership Interest. Additional additional servicing compensation in the form of late payment charges charges, Foreclosure Profits or other receipts not required to be deposited in the Collection Account shall be retained by the ServicerServicer as additional compensation. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of Owner Trustee, Administrator all other fees and Indenture Trustee fees, expenses and indemnifications due not expressly stated hereunder to be for the Indenture Trustee under Section 6.7 account of the IndentureCertificateholders) and shall not be entitled to reimbursement therefor except as specifically provided herein. (b) The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement, due to the Administrator under Section 6.16 including fees and disbursements of the Indentureindependent accountants referred to in Section 3.11, taxes imposed on the Servicer, and all other fees and expenses not expressly stated hereunder to be for the account of the Noteholders and Certificateholders (including, without limitation, the Transferor in respect cost of the Ownership Interest) obtaining Opinions of Counsel required under this Agreement, except as otherwise provided herein), and shall not be entitled to reimbursement therefor except to the extent that such expenses constitute Liquidation Expenses or as otherwise specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. So long as HSBC Finance or one of its Affiliates is the ServicerOn each Servicer Distribution Date, the Servicing Fee for each Collection Period ending on or before [ ] shall be paid pursuant to Section 5.01(a)[(xix)]. The Servicer shall be entitled to receive retain and not include in the Servicer Distribution Amount, as servicing compensation for the Due Period immediately preceding such Servicer Distribution Date, an amount equal to the Servicing Fee as compensation Fee; provided, however, that for its services in connection with servicing the Home Equity Loans. On any Payment Date prior to first six months following the [ ] Payment Date when HSBC Finance or one of its Affiliates is not Closing Date, the Servicer or on any Payment Date on and after the [ ] Payment Date regardless of whether HSBC Finance or one of its Affiliates is the Servicer, the Servicing Fee for each Collection Period shall be paid to the Servicer out of Interest Collections prior to their deposit in the Collection Account and shall not be entitled to retain and shall include in the responsibility or liability Servicer Distribution Amount an amount equal to the product of 0.50% per annum and the Trust, the Owner Trustee, the Indenture Trustee, the Administrator, the Noteholders or the Transferor in respect Scheduled Principal Balance of the Ownership Interesteach Mortgage Loan. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other receipts administrative charges, release fees, bad check charges and other similar servicing-related fees shall be retained by the Servicer. Net Liquidation Proceeds not otherwise required to be deposited in the Certificate Account or the Collection Account pursuant to this Agreement, to the extent set forth in Section 6.6(d), earnings paid on Permitted Investments and amounts held on deposit as investment earnings on the Collection Account shall be retained by or remitted to the ServicerServicer to the extent not required to be remitted to the Trustee for deposit in the Certificate Account. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of Owner Trustee, Administrator and Indenture the Trustee fees, expenses and indemnifications due Fee to the Indenture Trustee under extent that monies in the Collection Account are insufficient therefor, as provided in Section 6.7 of the Indenture, due to the Administrator under Section 6.16 of the Indenture9.5 hereof, and all other fees and expenses not expressly stated hereunder to be for the account of the Noteholders and the Transferor in respect of the Ownership Interestpayable by or from another source) and shall not be entitled to reimbursement therefor except as specifically provided herein.